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3 major currencies outperform the dollar since the beginning of the year

[size=30]3 major currencies outperform the dollar since the beginning of the year[/size]

20/01/2018 10:46 | Number of readings:

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[rtl]Trend Press / Agencies[/rtl]

[rtl]The US dollar continued its losses against other major currencies since the beginning of this year, continuing the weak performance of the strongest currency in the world .[/rtl]

[rtl]Three major currencies recorded notable gains against the US dollar in the first 18 days of this year, supported by better-than-expected economic performance and trends in ending several years of stimulus policies .[/rtl]

[rtl]The euro continues to recover[/rtl]

[rtl]The single European currency managed to continue its gains that began in 2017, which made it the best performer among major currencies last year .[/rtl]

[rtl]The euro crossed the $ 1.23 level this week for the first time since 2014, before easing slightly in the last session .[/rtl]

[rtl]The euro ended 2017 at $ 1.2005, while at 6:45 pm GMT it was $ 1.2222, gaining almost 1.9% since the beginning of 2018 .[/rtl]

[rtl]The euro received support from the strong economic performance of the euro zone during the last period in terms of economic growth, unemployment and trade surplus .[/rtl]

[rtl]The European Central Bank (ECB) is also expected to end its bond buying program in the euro area this year after halving its purchases by half this January .[/rtl]

[rtl]The European Central Bank hinted in the minutes of its recent meeting that it is moving to adjust its speech on monetary policy; to reflect the recent recovery in economic indicators .[/rtl]

[rtl]Yen and expected shifts[/rtl]

[rtl]The Japanese Yen did not budge much from the strong performance of the European currency against the US Dollar, with gains of 1.8% since the beginning of the year .[/rtl]

[rtl]Recent data prompted the Bank of Japan Governor to express optimism about the state of the economy and prices .[/rtl]

[rtl]The Bank of Japan decided to cut purchases of long-term bonds by 10 billion yen a month, a move that could indicate a limited reduction of the quantitative easing program .[/rtl]

[rtl]Official data showed Japan's gross domestic product (GDP) growth of 2.5 percent in the third quarter of last year, registering a seventh-quarter growth, the longest expansion since the mid-1990s .[/rtl]

[rtl]Chinese dragon surprises everyone[/rtl]

[rtl]China has proven wrong with analysts' forecasts of its economic performance last year, recording its currency rising to a two-year high against the dollar after gains in 2017 .[/rtl]

[rtl]The dollar fell to a fresh low of 6.40 yuan for the first time since December 2015, but the Chinese currency ended the week at 6.4040 yuan .[/rtl]

[rtl]With the fact that the Chinese yuan started in 2018 at 6.5068 yuan, the currency has gained about 1.5% against the US dollar since the beginning of the year .[/rtl]